SustainIQ, founded by Maria Diffley and Liam McEvoy, will use the new investment to expand its presence in the UK and Irish markets. The company has developed a software tool that helps organisations to monitor, measure and report on their social, economic and environmental impacts across the whole organisation. The tool helps capture data and analyse impact in one place, providing insights that help customers make decisions to maximise the impact of their sustainability initiatives.
Following a successful pitch, a syndicate of four HBAN business angels have joined forces to make the investment in SustainIQ, with match funding secured from Co-Fund NI.
SustainIQ, set up in 2018, is already working with a number of long-established companies in the construction, transport and FMCG sectors, including Belfast Harbour, Gilbert Ash, SHS Group, and Heron Brothers. The company’s software is being used in 500 sites in the UK and Ireland by organisations who see sustainability as a strategic advantage for the future, including the new Belfast Transport Hub, being developed by Translink at Weavers Cross.
SustainIQ co-founder Liam McEvoy said: “Sustainability is now a key consideration for companies in all sectors and an area that more and more organisations are investing in, not just for compliance but also to help win contracts, raise finance and attract talent.”
“But it can be difficult to know what is working and where resources should be allocated, particularly if you have lots of staff and multiple sites. Our software helps companies capture data and use it to add real value to their business.
“We are really excited about where the business has got to and the support we’ve received from our investors through HBAN and Co-Fund NI, alongside the credibility we have already built up, will be crucial in helping us to scale up the team and grow revenues.”
HBAN is a joint initiative of Enterprise Ireland, InterTradeIreland and Invest NI, dedicated to the all-island promotion of business angel investment. HBAN allows companies from a wide range of sectors to pitch to angel investors.